Cost of Living in Cape Coral, FL

With a cost of living index of 117, Cape Coral, FL is a notably expensive place to live. Living here is 17% more expensive than the national average and 7% above the Florida state average of 110. As a major city with a population of 206,387, Cape Coral offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Cape Coral's cost of living. The median monthly rent is $1,751 (33% above the US median of $1,319), and the median home value sits at $339,200 (11% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cape Coral is $76,062, which is 1% higher than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Everyday prices in the Cape Coral-Fort Myers, FL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.